EATA arrow indicator: compilation of two oscillators
EATA arrow indicator are calculated using RSI and CCI indicators. A fast RSI indicator is used instead of the usual RSI indicator.
The difference is that in the normal RSI oscillator its value is counted using the exponential method, while the fast one uses a simple ratio.
The intersection of red and blue lines of the indicator are signals to buy or sell. For the trader's convenience, the indicator also displays buy and sell signals in the form of green and red arrows. The green arrow is a signal to buy and the red arrow is a signal to sell.
EATA arrow indicator settings:
- CCI_per (default = 14) - period of CCI indicator calculation;
- RSI_per (default = 14) - calculation period of the RSI indicator;
- Ma_Period (default = 2) - the calculation period of the Moving Average indicator;
- koef (default = 8) - the number of bars used to calculate the indicator.
The experts of fortrader.org think that the EATA Arrow Indicator should not be used as a self-sufficient source of trading signals. It would be much more effective to use it as a part of trend trading strategies as a filter or a set of indicators to determine the point of entry into the market.
Other signal and arrow indicators
Mr. Gobbler, could you at least run this "miracle" in the tester? Picasso is a rest.
When you install it on the chart beautifully draws the story, and then silence. When switching back and forth between the TF, it draws the missed.